Profoto Holding AB (publ) (PRFO) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning and welcome to Profoto's Q1 report. My name is Amanda Åström and today I have with me our CEO Anders Hederbark and our acting CFO Linus Marmstedt. I will now hand over to Anders who will start off by giving you a summary for the quarter. Good morning, everyone. Sorry that we are late, but now we're on, so I'm very happy to speak to you all, and I hope that you can hear good the voice of me. Otherwise, please send in the group chat. Anyway, welcome. First, the summary of the first quarter 2025. We displayed the report April 15th, and the Q1 results is in accordance with the preliminary figures that we published in April. Net sales decreased by 4% to 164 million Swedish crowns. That is a negative organic growth with 5%. we see a significant decline in US demand and US sales. And that is the most important explanation of the decrease in sales. Consequently EBIT was 17 million, that is compared with 34 million last year, and an EBIT margin of 10%. This is not a satisfying effect of the sales, but it's also affected by the negative currency effects. and Linus will explain more to that. So we will spend quite a lot of time on explaining the report and that's why Linus will take the next slides. What is really happy for us is that we started our market entry into the product segment LED. So we start shipping our L1600D both into the cinema industry and into the existing distribution channel. And we're very happy for that. And it has been received very well. And we are shipping the first product to the large production of cinema production for the TV series. And this is happening in the UK. But as a consequence of the challenging situation, especially in the US demand, the board of directors has withdrawn the dividend proposal. And we will instead focus on share...